Got $10? 3 stocks to explore before July ends

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Got $10? 3 stocks to explore before July ends

 Got $10? 3 stocks to explore before July ends
Image source: Worawee Meepian, Shutterstock


  • Planning to invest in the stock market and have less money? No worries, we have got you covered.
  • SLI share prices have returned about 578 per cent to shareholders in the last 12 months.
  • The S&P/TSX Composite Index which approximately covers 95 per cent of the Canadian equities market has returned 15.3 per cent year-to-date (YTD).

Over the years, stock markets have amassed an enormous amount of wealth for retail investors. This is the primary reason why investing in share markets is advised as investors can get higher returns on investments and combat the impact of inflation.

Despite a chance of making huge gains, it is important to note that equity markets are highly volatile. An investor should research well before investing in shares of a company.

The S&P/TSX Composite Index, which approximately covers 95 per cent of the Canadian equities market, has returned 15.3 per cent year-to-date (YTD). If you are interested in buying stocks, there are plenty of options available in the Canadian stock markets.

On that note, we have shortlisted three stocks under C$ 10 that may give you high returns in future:


1. Standard Lithium Ltd. (TSXV:SLI)

The Vancouver-based company is engaged in lithium production, and it seems to have strong growth potential as demand for lithium is estimated to increase in future. In comparison to 47,300 tonnes of lithium demand in 2020, the global demand is estimated to soar to 117,400 tonnes in 2024, according to a GlobalData report.

SLI share prices have returned about 578 per cent to shareholders in the last 12 months. During the same period, SLI stock outperformed Toronto Stock Exchange 300 Composite Index as it grew by 445.4 per cent.

Priced at C$ 7.32 apiece at market close on Thursday, July 22, the stock was 617.6 per cent higher than the 52-week low of C$ 1.02 per share on September 4, 2020.


2. International Petroleum Corporation (TSX:IPCO)

The oil and gas exploration company has business operations in Canada and portfolios of oil and gas in Malaysia and France. As oil prices are estimated to reach US$ 100 per barrel by 2022, companies operating in this sector might expand and increase their revenues in future.

In the first quarter of 2021, International Petroleum Corporation exceeded its guidance range and recorded average net production of 43,700 barrels of oil equivalent per day. The company recorded revenues of US$ 134.3 million compared to revenues of US$ 80.5 million in Q1 2020.

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IPCO stock soared by 76 per cent in the last six months and climbed about three per cent quarter to date. On July 6, 2021, IPCO shares achieved a 52-week high of C$ 6.26 apiece and closed at five per cent down at C$ 5.92 per share on July 22.


3. Extendicare Inc. (TSX:EXE)

Extendicare is a diversified healthcare company and provides facilities like long-term care, home healthcare and retirement living. Priced at C$ 8.53 on July 22, the EXE stock distributes a monthly dividend of C$ 0.04 per unit to the shareholders.

EXE stock catapulted by 51 per cent in the past year and expanded by 11 per cent in the last three months.

The healthcare company is at the forefront of battling the COVID-19 pandemic and as of March 31, 2021, 90 per cent residents of long-term care (LTC) facilities and 86 per cent of residents of retirement living had been vaccinated.

In Q1 2021, Extendicare recorded an adjusted EBITDA of C$ 27.7 million, an increase of C$ 7.6 million year-over-year (YoY). In addition, the net operating income expanded to C$ 40.3 million in the first quarter of this year.


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